This commentary will focus on the first 60-90 minutes after the Opening Bell. However, our strategies can and will provide setups the entire trading day.
The Easiest Way To prepare for Scalp Trading the ES E-Mini Futures.
Yesterday’s price action rallied after a strong reversal in the morning session and continued the multiple day mini market cycle phase 2 with higher swing pivot highs and higher swing pivot lows. The 20MA continued to converge upwards while above the upward moving 200MA. Overnight price action retraced back inside the prior day’s range and remained in the upper 1/3rd of the intraday range heading into the pre-market and opening bell.
Pre-market Economic news and reports…
Every Day we use the following Scalp Trading Strategies…
Immediately after the opening bell, price action moved slightly below the opening bell and formed a multiple bar reversal, and we waited for confirmation of price action closing near the opening bell and took an aggressive LONG. Once price action went in our favor, we used a trailing stop and then took 1.5+ points profit.
Duration: 15+ minutes
For ultra-aggressive traders, during the first-hour session, there were 4 aggressive entries that could lead to quick small profits.
For traders focused on higher quality trading, there were 1 good candlestick or chart pattern setups for quick profits.
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